The breakeven price is high for drilling undeveloped crude oil in Northern Alberta, but the decision can be put off for 5 years (i.e., the decision can be made anytime from today to five years from today). The drilling rights is

a European call option with a maturity of five years.

an American put option with a maturity of five years.

a European put option with a maturity of five years.

an American call option with a maturity of five years.